Fewer Sellers Cut Asking Price In August

According to real-estate website Zillow.com, the number of sellers that reduced their asking price fell in August. It was the first time in five months that the number of homes with at least one price cut decreased from the month before. At the end of August, prices were reduced on 28.8 percent of homes listed for sale on Zillow.com, down from 30.1 percent in July. The median price cut was 7 percent. Price reductions peaked in September of last year when 32.6 percent of listings were cut. More here.

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